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1004 Bellshire Drive #01-Parker CR Indian Trail, NC 28079

5 Beds 4 Baths 3,147 sqft Built 2020

$439,316

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $139.60
  • 2 Days on Market
  • MLS # : 3693723
  • Updated Date : 12/26/2020 at 16:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,147 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mattamy Carolina Corporation

Listing Agent's Description

Beautiful New Construction! Completed and Move in Ready!! The Parker is great open floor plan. On the first floor you will find a formal dining room, powder room, gourmet kitchen looking out at the large gathering room with fireplace. Breakfast room is off the kitchen and you also have a guest suite with private bathroom with shower. Upstairs you have a private master bedroom with bath oasis and his and her walk-ins. You also have a large loft, 3 additions bedrooms, 2nd full bath and laundry room. Ready in March 2021! Seller to pay closing cost up to 3% with the use of MHF.

SEE MORE

MARKET HIGHLIGHTS

  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)
  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)

PRICE & RENT TRENDS

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Hemby Bridge Elementary School Primary Regular 496 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Hemby Bridge Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 31
6
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$395,384$483,248$439,316

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,621
Property Tax -$287
Property Insurance -$86
HOA -$65
Property Management Fees -$119
CASH FLOW
-$98

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$439,316

PROJECTED PRICE

$2,080

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,419

INVESTMENT

$118,419

Down Payment
$109,829
Rehab Estimate
$2,000
Closing Costs
$6,590

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,621

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,829
Loan Amount $329,487
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$24,064

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,080

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,061

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9953$2,0004$2,0805$2,195
$2,195
RENT COMPS ANALYSIS
  • 1004 Bellshire Drive Indian Trail, NC 4
    • 5 beds 4 baths ∙ 3,147 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,147 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.66
    •  
  • 2002 Seabiscuit Drive Indian Trail, NC 1
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.64
    •  
  • 1035 Thessallian Lane Indian Trail, NC 2
    • 5 beds 3 baths ∙ 3,204 Sqft ∙ Built 2016 5 beds 3 baths ∙ 3,204 Sqft ∙ Built 2016
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.62
    •  
  • 1007 Emerson Lane Indian Trail, NC 3
    • 5 beds 3 baths ∙ 3,029 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,029 Sqft ∙ Built 2007
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.66
    •  
  • 1003 Woodmore Lane Indian Trail, NC 5
    • 6 beds 3 baths ∙ 3,125 Sqft ∙ Built 2007 6 beds 3 baths ∙ 3,125 Sqft ∙ Built 2007
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.70
    •  
PROPERTY LISTING DETAILS
Ed Pohorence
1.704.962.9632
Mattamy Carolina Corporation
BESbswy